Km Rate 2024 Nz
Km Rate 2024 Nz. The table of rates for the 2023 income year. If you are a sole trader or qualifying close company and use the kilometer rate method to claim business vehicle costs, this new rate applies for the 2023 year, being the year 1 april 2022โ31 march 2023 if you have a standard balance date.
The tier one rates reflect an overall increase in vehicle running costs largely due to fuel costs, insurance and interest rates. This new rate applies for the 2024 year (i.e., 1 april 2023โ31 march 2024, assuming a standard balance date).